Şişecam Group reported consolidated net sales of $700 million (Turkish Lira 3.1 billion) and a net profit of $128.5 million (TL 569 million) in the first quarter ended March 31, 2018. The Group’s consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) reached $204.8 million (TL 907 million) for the same period.

The company increased its total consolidated net sales by 17.7 percent year-over-year in the first three months of 2018.

Şişecam produced 1.2 million tons of glass, 600,000 tons of soda and 900,000 tons of industrial raw materials in the first quarter ended March 31, 2018.

Ahmet Kirman

“In the first quarter, our consolidated net sales have reached [$700 million] (TL 3.1 billion). The share of our international sales representing the total amount of exports from Turkey and sales from overseas production is 58 percent in our consolidated sales. During the same period, international sales volume reached [$406.5 million] (TL 1.8 billion). Thanks to ongoing efforts to optimize the cost structure and the geographical distribution of production activities, consolidated EBITDA reached [$204.8 million] (TL 907 million) in the same period,” said Ahmet Kırman, vice chairman and CEO.

Total Investments

Şişecam Group reported total investments of $67.7 million (TL 300 million) and continued to support the national economy with an export volume of $190 million in the first quarter of 2018.

“Our goal is to further strengthen our financial structure to maintain the continuity of the group’s steady growth line and to support our growth in the upcoming periods. While continuing to increase the speed of our efforts to optimize our production facilities, we will continue to optimize our costs using all efficient methods, including increased use of automated systems. We are constantly realizing our evaluations of policies to be followed in the direction of our objectives of sustainable profitable growth and operational excellence, taking into consideration the conditions of the global economy,” said Kırman.